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OTC FX futures to attract capital flow to nation’s fixed income, equity market
29 Jun 2016
FMDQ OTC Securities has announced that the OTC FX Futures market will attract significant capital flows to the Nigerian fixed income and equity markets and minimise the disequillibrum in the Spot FX market.
Buhari’s reality check on floating the naira - Part 1
27 Jun 2016
The adoption of a floating exchange rate by Nigeria on June 14 ,2016 was informed by similar challenges faced in the United States on June 2, 1929 when the U.S stock market crashed, triggering the Great Depression.
Senate approves N241bn budget for NDDC, goes on three-week recess
24 Jun 2016
The Senate yesterday approved a total sum of N241 billion as the 2016 Niger Delta Development Commission (NDDC) budget.However, the Upper Chamber adjourned plenary for three weeks and to resume on July 12th, 2016.
Two years of Emefiele in CBN saddle
23 Jun 2016
On June 3, 2016, Godwin Emefiele, the Governor of the Central Bank attained his second anniversary in office.
On the new foreign exchange regime
21 Jun 2016
The Central Bank of Nigeria (CBN) has done the appropriate thing by introducing a new foreign exchange (FX) regime and guidelines for the operations of the market-driven exchange rate for the Naira.
Senate probes alleged diversion of N500b fund for power, aviation, SMEs
21 Jun 2016
An investigation into alleged abuses in the management of the N500 billion Federal Government intervention fund released in 2011 for the power and aviation sectors as well as the Small and Medium Scale Enterprises...
Nigeria’s economic policy and need to avert impending recession
21 Jun 2016
I applaud the Governor of the Central Bank of Nigeria concerning the potentially transformational statement on the Foreign Exchange Policy. The impact of a single foreign exchange market...
CIS applauds new flexible exchange policy
19 Jun 2016
The Chartered Institute of Stockbrokers (CIS) on Sunday said that the new foreign exchange policy announced by the Central Bank of Nigeria (CBN) would bolster investor confidence in the Nigerian Stock Exchange (NSE).
How faltering global, domestic economies propped ‘flexible’ policy
15 Jun 2016
The assessment of the challenging global and domestic macroeconomic and financial developments, the short-to medium-term prospects for the domestic economy and the outlook for the rest of the year...
CBN dangles fresh N93b in power sector intervention
8 Jun 2016
The intervention tagged Nigerian Electricity Market Stabilisation Facility (NEMSF), was scripted to support operators to the tune of N213 billion in 2014, by CBN.
Naira crashes to N285 per dollar at interbank market
31 May 2016
Ahead of the release of modalities for the implementation of the adopted flexible exchange rate policy by the Central Bank of Nigeria (CBN), the interbank market has already switched to N285 to the dollar.
CBN updates BDCs’ list as anxiety over flexible forex details rises
30 May 2016
However, the CBN Governor, Godwin Emefiele, ruled out the possibility of restoring funding to the segment that is beset with difficulties, especially at this time of dwindled forex earnings.